- CollegeInvest Savings Plans
- Easy Money
What to Start Thinking About.
Start here with these four primary considerations to help you develop your college savings plan.
1. Define your savings goals.
The fastest way to get somewhere is to know where you’re going! You’ll want to determine the cost of college to aid in your savings goal.
Some parents save a percentage of their income for college each month (like retirement) or you can add a lump sum at the end of each year.
By determining how much you’d like to save, you can plan the best way to save. Use these College Savings Calculators.
2. What is your time horizon?
Diapers or diplomas? Most children enter college around age 18. Depending on how old your child is, you may have more or less time to reach your goals.
Determining how long you have to save will likely influence how much you save and the best savings solutions and strategies for you.
3. Determine how much can you can save.
By examining how you save, you can determine how much you can save.
Can you save the same amount each month or will it fluctuate?
Do you have a windfall you need to invest.
Use a personalized College Savings Planner report.
4. Assess your risk tolerance.
Do you want help making investment decisions or make your own choices? Am I aggressive? Conservative with my money? No idea? By considering your risk tolerance, you can better determine the asset allocation that’s right for you.
Complete this survey to determine your investor temperament and risk tolerance.
Once you’ve thought through the questions and have a feel for what you need to consider, follow these five steps to learn about each of our plans, the benefits they can offer you, and the enrollment process.